Discussion in 'Purchasing DVC' started by wdrl, Aug 9, 2010.
wdrl thank you for tracking this information and updating us.
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Thanks - again heavily buying back BCV. Something is going on there.
Thanks to information supplied by a Disboard member, we have been able to get a glimpse of the ROFR time line when DVD decides to buy back a deed:
7/21/2010 - Member makes an offer for 100 BCV points from Unit #21 at $80/point
7/28/2010 - Member is notified that Disney exercises ROFR on offer
8/19/2010 - Seller signs warranty deed transferring 100-point BCV deed to DVD.
9/07/2010 - Warranty deed is recorded and filed at OCC. OCC indicates the "Sale/Consideration" value of deed is $8,000.00
Now, it will be interesting to see how soon DVD sells points from BCV Unit #21.
If other Disboard members have resale contracts ROFRed by DVD, I would appreciate them sending me a PM with the information about the resort, number of points, Unit number, and offer price per point. I can then try to track the ROFRed contract on the OCC website.
Excellent post and Compliment to donald1 post.
Once again, an amazing job and a very valuable service. Thank you for your efforts.
I'm finding this all very interesting too.... I was interested in a small 30 pt BCV add-on, through Disney, and my guide discouraged me from doing it. I took that at face value, but wonder....
maybe it makes sense since it was so small, but I just hate thinking I might have to second guess through machiavelian intrigue at DVC, I get too much of that at work!!!
Wow, I love this data! In part because it is really interesting info, but also because I'm a bit of a numbers geek. Thanks for your work on this!
1) This is purely magical data! You sir are a True DVC Geek - and absolutely no disrespect is intended. Rather, I only have admiration for your research and diligence - this is the stuff I love to do!
2) Jim - I scanned the entire post a few times and could not see where your 335 Foreclosures was previously mentioned. I am not saying you are wrong - I am certain you are correct. But, am curious where that number came from?
3) The fact that DVC is not RFOR'ing makes all the sense in the world when you consider they probably have excess inventory through foreclosures. Obviously the economy is driving that - but - every time you sign up a new member or finance an add-on you increase your odd's Loans / Dues will not be paid.
So, this trend may last a bit longer. But, I am very uneducated when it comes to these types of things - so - who knows?
The confusion is caused by some poor editing on my part. When I started this thread, I included in Post #1 some information about foreclosures. JimMIA quoted part of that original post. Then, when I updated the chart to include August data, I edited part of the original text and zapped out much of the information about the number of foreclosures. Sorry for the confusion!!
My offer to buy 200 BWV points (16 this year, 200 more 08/11) just cleared ROFR at $50/pt yesterday.
Hmm, our offer for BCV (DEC) 100 points at 80/point with 100 banked 09 points got ROFR'd 9/28.
Kevin and Mona
Thats kind of a scary price for BWV. So much for Disney keeping the pricing up. Wonder if it slipped through the cracks or a sign of the times.
Remember BWV does have that scary clown
Yep, BCV is the one they are definitely concentrating their ROFRs on!
I don't think there were any cracks that it slipped through. Looking at this thread was AWESOME information and I knew BCV was the one Disney was concentrating on and that BWV had no ROFRs in the past 3 months.
After I closed on this sale a DISBoard admin said he knows of a BWV sale at $33/pt in August. He didn't give any details beyond that, however.
Yes, it was posted as a transaction between people who knew each other but still, it was a great deal as is yours!!!
I'm guessing that DVC has an inventory "floor" that they try to maintain at each resort for add-ons. After all, if you've got a current member "on the hook" who's willing to pay $100 - $115 pp to add-on, you'd want to close the deal before they consider going resale. Putting them on a waitlist risks lost revenue.
BCV's small size means tight supply and it's convenient location (especially during this time of year with F&W) mean high demand. I wouldn't be surprised if it's one of the more popular add-on locations.
Once the BCV on-hand inventory get to where it needs to be (or demand slacks), I'm guessing will see the ROFRs drop off, or shift to a different resort.
I'm just hoping it won't be VWL next, or at least until my contract gets through.
The chart below reflects updated data through September 30, 2010, on deeds reacquired by Disney, mainly via the ROFR process:
Disney continues to spend most of its ROFR efforts on reacquiring BCV points. In September 2010, the 3,635 BCV points were reacquired by Disney at prices ranging from $55.00 to $83.50 per point. The average price for the BCV points was $71.67/point.
The BWV deed that was reacquired at a cost of $67.00/point.
Disney also reacquired a BLT deed. However, I suspect this deed was not reacquired by Disney through the "normal" ROFR process. According to the sale/consideration information recorded with the Orange County Comptroller, the BLT deed was reacquired at $120.00 a point, which is the full, non-discounted price for BLT. In addition, Disney reacquired this deed only a few weeks after it had been sold to the original buyer. Thus, it appears to me that Disney may have been taking back this deed for reason unrelated to it right of first refusal.
I appreciate your efforts on maintaining this. I tried to get at the data myself through the comptroller's website, but couldn't get through the "noise" of OKW extensions, etc. This is really good info you're putting together.
How long does it take you to do this every month, anyway?
That's great! Did you make an offer? I've been watching the resale stuff and not sure where to start and what type of offer I would like to make. I think your price is unique and not the norm.
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